The UN secretary-general urged Israel to ease its blockade of the Hamas-ruled Gaza Strip and called for large-scale foreign aid, saying the situation in the isolated territory is "one of the most dramatic humanitarian crises" he has seen.
Speaking at a UN-backed elementary school in the northern Gaza Strip on Wednesday, Antonio Guterres also called for unity among the Palestinians' warring factions — Hamas, which rules Gaza, and Fatah, the party of Palestinian president Mahmoud Abbas.
"The division only undermines the cause of the Palestinian people," he said. In an apparent message to Hamas, he said "militantism" was causing damage to the region, adding that he had a dream to "come back to Gaza one day and to see Gaza as part of a Palestine state in peace and prosperity."
Guterres is on his first visit to the region since taking office at the beginning of the year. During a four-day visit that was ending on Wednesday, he met with Israeli and Palestinian leaders to encourage the resumption of peace talks.
His stop in Gaza was meant to draw attention to the seaside territory, where conditions have steadily deteriorated since the Islamic militant group Hamas seized power a decade ago.
Israel, backed by Egypt, has maintained a blockade on Gaza, saying the measure is needed to prevent the group from smuggling weapons and fighters. Hamas seeks Israel's destruction, and the two sides have fought three devastating wars.
Years of conflict and isolation, compounded by the divide with the rival Fatah-led Palestinian Authority, have ground Gaza's economy to a standstill. Unemployment is over 40 per cent, and the territory suffers from power outages of up to 20 hours a day.
"I am deeply moved to be in Gaza today, unfortunately, to witness one of the most dramatic humanitarian crises that I have seen in many years working as a humanitarian in the United Nations," Guterres said.
In his speech, Guterres said it was crucial that peace talks aimed at establishing an independent Palestinian state alongside Israel begin. But at the same time, he called for a "program of action" to improve conditions and announced $4 million in emergency aid for U.N. activities in Gaza.
"It is important to open the closures," he said. "It is important to avoid the build-up of the militantism that can undermine the confidence between the two people."
Guterres did not meet with Hamas officials. But the group, which is considered a terrorist group by Israel and its Western allies, demanded he work to lift the Israeli-Egyptian blockade.
Hamas also demanded he approve relief and development programs and pressure Israel about the Palestinian prisoners it holds.
Israel blames Hamas for Gaza's woes, saying its tough policies are a response to the group's attempts to build cross-border attack tunnels and its development of rockets capable of striking deep into Israel. Hamas is also holding two Israeli civilians and the remains of two Israeli soldiers. Critics say the Israeli blockade amounts to collective punishment.
Prior to arriving in Gaza, Guterres took a helicopter tour of the Israel-Gaza border with Israeli officials, visited a tunnel Hamas dug into Israel to carry out attacks and met local residents living along the volatile front.
Guterres was accompanied by Danny Danon, Israel's ambassador to the United Nations, and Aviv Kochavi, Israel's deputy military chief. Danon warned Guterres that Gaza's Hamas rulers have been exploiting international humanitarian aid to dig the tunnels aimed at harming Israel.
"Instead of working to ensure a better future for their children, Hamas has turned the residents of Gaza into hostages," Danon said. "At the same time, the Israeli residents of the border communities have stood strong in the face of terror threats, as they build prosperous communities and help further develop the region for the betterment of the next generation."
Hamas has ruled Gaza since seizing control of the coastal area in 2007 from forces loyal to Abbas. Repeated attempts at reconciliation have failed.
Hamas has since fought three wars with Israel, firing thousands of rockets into its territory and digging a network of offensive tunnels. It has largely observed a truce with Israel since the last battle, in 2014, though more radical groups in the territory have carried out occasional attacks.
As part of the blockade, Egypt has cracked down on the once-vibrant tunnel trade along the border. Israel began construction of an underground anti-tunnel barrier along the border last year.
Guterres' visit comes as the US is trying to revive peace talks for the first time in over three years.
The Trump administration has been speaking to Israeli and Palestinian officials, as well as leaders of moderate Arab countries, in hopes of finding a formula for talks. But it has not yet outlined a plan of action. It also has not endorsed the idea of Palestinian independence — the solution preferred by a string of predecessors and the international community.
US envoy Jason Greenblatt toured the southern border area on Wednesday, where he visited a tunnel uncovered by the Israeli military and criticised "Hamas' mismanagement of humanitarian aid and its commitment to terrorist violence."
In a final speech in Tel Aviv, Guterres said the world must remain focused on the region, and that there was no alternative to the two-state solution.
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
Premier League results
Saturday
Crystal Palace 1 Brighton & Hove Albion 2
Cardiff City 2 West Ham United 0
Huddersfield Town 0 Bournemouth 2
Leicester City 3 Fulham 1
Newcastle United 3 Everton 2
Southampton 2 Tottenham Hotspur 1
Manchester City 3 Watford 1
Sunday
Liverpool 4 Burnley 2
Chelsea 1 Wolverhampton Wanderers 1
Arsenal 2 Manchester United 0
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
The specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 849Nm
Range: 456km
Price: from Dh437,900
On sale: now
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
Where to buy
Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Killing of Qassem Suleimani
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Prophets of Rage
(Fantasy Records)
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The specs: 2018 Maxus T60
Price, base / as tested: Dh48,000
Engine: 2.4-litre four-cylinder
Power: 136hp @ 1,600rpm
Torque: 360Nm @ 1,600 rpm
Transmission: Five-speed manual
Fuel consumption, combined: 9.1L / 100km
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
How much of your income do you need to save?
The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.
In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)
Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.
HAJJAN
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now